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Putin leans on banks to fuel housing binge in economic push

Mortgage loans in first 9 months up by a third from last year

If the strategy works, the ripple effects of a mortgage boom in Russia would sweep up a slew of industries from construction to retail, feeding appetite for housing.


IT boomed while the rest of Russia bled. Now, mortgage lending offers the best chance yet of unlocking what may be the economy's greatest untapped resource.

With almost half of Russians living in disintegrating Soviet housing stock built before 1980, banks have taken...

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